My understanding is that you pay tax on each property owned. If you own them in your name and not a corporation then the the first $150,000 (USD) of assesed value is not taxed or is exempt from property tax. All value above that amount is taxed. If the property is owned by a corporation then then taxes are owed on the entire assesed value. Remember assesed value is usually much less then market value and is determined by the government land office.
Bob K
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